Small business owners like myself thrive on competition in the marketplace. It pushes companies to innovate and provide the best products and services to consumers. Unfortunately, big tech companies like Amazon, Google, Meta, and Apple are stifling competition with monopoly practices that crush small businesses.
The online marketplace used to be a tool for small businesses to grow their customer base, create jobs and test new ideas. Over time, big tech companies have become so dominant that they can gatekeep the online marketplace by disadvantaging competitors and swallowing their profits. They also use monopolist rent-seeking behavior that increases costs to consumers and provides worse products than in a competitive environment. Bipartisan members of Congress saw big tech companies skirting antitrust regulations, so they drafted the American Innovation and Choice Online Act (S.2992) to safeguard businesses and consumers.
Senator Crapo, Senator Risch, and Congressman Fulcher must support S.2992 to protect Idaho business owners and consumers. Our economy is built on innovation, which can only happen when we protect competition and prevent unilateral market power.